QUESTION 3 (20 Mark John \& Sons and Spencer's are companies in wholesalers of clothing. Below are their financial statements Statement of Financial Position as at 31 December 2022 Required Calculate and briefly report on the ratios for the two companies above: 1. Current ratio 2. Acid test ratio 3. Debtors collection period (in days) 4. Creditors payment period - (Use the cost of sales figure) 5. Stock turnover 6. Return on equity (ROCE) 7. Asset turnover (Total assets) 8. Which company would you prefer to invest in, and give a reason